Marijuana was illegal for such a long time that most people just assumed it was horribly bad for you. Now that doctors, lawyers, politicians, police and the general public have all agreed that it should be legal, it’s causing many people re-think the status of other drugs the government chose to outlaw
Here in Canada, and in many US states it’s fully legal to buy weed from a licensed store. There are all kind of problems with how the government has rolled that out, but I’ll save that for another article.
Psychedelic drugs are most likely going to be handled in a completely different way.
While marijuana is legal recreationally, my guess would be that psychedelic drugs will only be medicinal and highly regulated for the foreseeable future.
Studies are underway right now that use psychedelic drugs for therapy, and early results are pretty incredible.
They’re using psychedelics like LSD and magic mushrooms to try and help with opioid addiction, depression, PTSD, alcoholism and there’s supposedly even discussions around Alzheimer’s.
In fact, it’s probably not as new an industry as you may think.
Back in late 2018, the FDA gave “breakthrough therapy” status to a psilocybin treatment that was developed for clinical depression, expediting the development process. It’s notable because from what I’ve heard, the FDA hasn’t given breakthrough status in over 30 years.
With that said, you don’t get those kind of incredible breakthroughs by tripping balls unsupervised in your mom’s basement. Results like this come from guided therapy in a clinic.
The potential for plant-based alternatives to traditional pharmaceuticals is pretty incredible when you think about it, as the market size of the anti-depressant industry is approaching $14 billion…a pretty honestly depressing stat in itself.
What’s even more sad is that there are millions of people with severe depression that don’t respond to traditional medication at all. 100 million people from what I’ve been told.
Peter Thiel, the multi-billionaire investor that was once part of the Paypal mafia with Elon Musk made a big bet on a company out of the UK called compass pathways, and they’re making huge strides in clinical research with magic mushrooms.
Cities all over are decriminalizing the possession of magic mushrooms, and the movement towards regulated psychedelics is really gathering speed.
Enter the capitalists.
It’s not often a brand new, potentially massive industry just bursts onto the scene seemingly out of nowhere, so naturally investors are getting the checkbooks out and trying to find the best way to profit.
Think back to the early days of medical cannabis, when Canopy Growth went public at $0.75.
Regardless of the brutal crash that happened this year, those early investors all made out like bandits.
The real question is, could Psychedelic stocks be the next Cannabis?